01
Jul
05:19
Ouyeel raises CNY 2 billion in mixed-ownership reform
Ouyeel, under Baowu Group, has raised over CNY 2 billion ($291.9 million) in capital, deepening its mixed-ownership reform, according to a Xinhua report monitored by Kallanish.
After the financing, the percentage of Baowu holding rights decreased to 60%, after sharing rights with eight new companies.
The capital they raised this time will be used in the layout of its logistics system, information systems and connections with third-party platforms.
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Very good overview of the weekly steel market.
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